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Dec 3, 2012
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he has drawn a hard line saying the obama administration will refuse any fiscal cliff deep that does not include a tax hike on the richest americans. geithner remains optimistic despite harsh words from republicans. >> reporter: with the clock ticking in washington and the fiscal cliff moving closer every day, tim geithner said they will only approve a plan with tax rates. >> if they are going to force higher rates on virtually all americans, because they are unwilling to let tax rates go up on 2% of americans, then that's the choice they're going to have to make. >> reporter: geithner presented his plan to republicans, calling for $1.6 trillion in revenue and cuts in stimulus spending. he suggested the bush era tax cuts must expire for the wealthiest americans. >> we put forward a very comprehensive, carefully designed mix of savings and tax reforms to help us put us back on a path to stabilizing our debt and living within our means. >> reporter: republicans did not welcome the proposal. >> i was disappointed by the president's proposal. i think it is a rerun of his budget proposal.
he has drawn a hard line saying the obama administration will refuse any fiscal cliff deep that does not include a tax hike on the richest americans. geithner remains optimistic despite harsh words from republicans. >> reporter: with the clock ticking in washington and the fiscal cliff moving closer every day, tim geithner said they will only approve a plan with tax rates. >> if they are going to force higher rates on virtually all americans, because they are unwilling to let tax...
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Dec 3, 2012
12/12
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. >> with a so-called fiscal cliff and higher taxes for all americans looming. >> right now i will say we are nowhere. >> the house speaker blamed the stalemate on the obama administration. he said they are not taking republicans seriously with plans to close loopholes and limited deductions without raising taxes. >> off the president may disagree but the fact is if there is a another way to get revenue from upper income americans that does not hurt our economy why would we not consider it. >> the president wants to in the bush era tax cuts for people making more than a quarter of a million dollars per year. the average middle-class public to pay about 2000 a year more in taxes. >> there is no reason why 98 percent of americans have to see their taxes go up because some members of congress on the republican side want to block tax rate increases for 2 percent of the most wealthy americans. >> nancy pelosi pushing for a house vote. >> we think it would be a wonderful christmas gift for the american people to receive a tax cut in january. >> we are optimistic. >> republican senator linda
. >> with a so-called fiscal cliff and higher taxes for all americans looming. >> right now i will say we are nowhere. >> the house speaker blamed the stalemate on the obama administration. he said they are not taking republicans seriously with plans to close loopholes and limited deductions without raising taxes. >> off the president may disagree but the fact is if there is a another way to get revenue from upper income americans that does not hurt our economy why would...
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Dec 3, 2012
12/12
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"fiscal cliff." the deadline is at the end of the month but lawmakers may only have a couple of weeks to get a deal done. danielle nottingham reports now from washington. >> reporter: washington is driving toward the "fiscal cliff" and with just 29 days left, negotiations are at a stalemate. >> right now i would say we're nowhere. >> reporter: taxes continue to be the line in the sand between democrats and republicans. >> there is no path to an agreement that does not involve republicans acknowledging that rates have to go up for the wealthiest. >> reporter: gop lawmakers don't want higher rates and say the obama administration's proposed cuts to entitlements don't go far enough. >> i think we're going over the cliff. it's pretty clear to me they have made a political calculation. this offer doesn't remotely deal with entitlement reform in a way to save medicare and medicaid and social security from bankruptcy. >> reporter: if a deal is not reached, taxes go up and spending will be clashed. defense c
"fiscal cliff." the deadline is at the end of the month but lawmakers may only have a couple of weeks to get a deal done. danielle nottingham reports now from washington. >> reporter: washington is driving toward the "fiscal cliff" and with just 29 days left, negotiations are at a stalemate. >> right now i would say we're nowhere. >> reporter: taxes continue to be the line in the sand between democrats and republicans. >> there is no path to an...
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Dec 3, 2012
12/12
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there 28 days into the fiscal cliff. if the combination of automatic tax increases, as spending cuts that will kick in if congress does not act. if president obama and republicans appear to be playing a game of political chicken. if the president put out a proposal for 1.6 trillion and higher taxes over the next 10 years. he is also proposing 600 billion in spending cuts and 200 billion in new spending to stimulate the economy. house speaker and republican leader john bonner says that the president's plan is in serious. treasury secretary tim geithner is criticizing republicans say that they have no plan. as of right now. we are nowhere on the fiscal cliff. >> 3 you won't take my life. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids is strong. aids is strong. but we are stronger. and aids... ♪ aids is going t
there 28 days into the fiscal cliff. if the combination of automatic tax increases, as spending cuts that will kick in if congress does not act. if president obama and republicans appear to be playing a game of political chicken. if the president put out a proposal for 1.6 trillion and higher taxes over the next 10 years. he is also proposing 600 billion in spending cuts and 200 billion in new spending to stimulate the economy. house speaker and republican leader john bonner says that the...
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Dec 3, 2012
12/12
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. >> the fiscal cliff continues in washington. how republicans are reacting to the latest statement. >> and the struggle for susan rice was lawmakers continue to attack her statements about benghazi. you won't take my life. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids is strong. aids is strong. but we are stronger. and aids... ♪ aids is going to lose. aids is going to lose. ♪ oh, it's great! now i can brew my coffee just the way i love it. how do you do that? well, inside the brewer, there's this train that's powerful enough to carry more coffee and fresh water to make coffee that's stronger and bigger... and even hotter! actually, i just press this button. brew the coffee you love -- stronger, bigger, or hotter -- with the keurig vue. >>> knack now to our storm watch coverage. this was round three. ktvu's matt ke
. >> the fiscal cliff continues in washington. how republicans are reacting to the latest statement. >> and the struggle for susan rice was lawmakers continue to attack her statements about benghazi. you won't take my life. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids...
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tahman bradley has latest from washington. >> reporter: fiscal cliff talks have hit a stalemate only 29 days to go, republicans and democrats remain far apart over the weekend there was worry negotiations might fail. >> i think we are going over the cliff, it is clear they've made a political calculation. >> reporter: president obama and his team are demanding that congress allow bush era tax cuts to expire. >> there is no responsible way we can govern this country with those low rates in place for future generations those rates have to go up. >> reporter: republicans have drawn a line in the sand on raising tax rates signaling they are open to raising revenue by reforming the tax code and limiting reductions for the wealthy. >> right now i would say we are nowhere. >> reporter: president obama asking for 1.6 trillion in new tax revenue over 10 years, boehner is offering half that. the president offering 600 billion dollars in cuts to medicare and other programs. the speaker says that is not enough. he hasn't outlined what he thinks should be cut. if they can't avoid the fiscal cliff
tahman bradley has latest from washington. >> reporter: fiscal cliff talks have hit a stalemate only 29 days to go, republicans and democrats remain far apart over the weekend there was worry negotiations might fail. >> i think we are going over the cliff, it is clear they've made a political calculation. >> reporter: president obama and his team are demanding that congress allow bush era tax cuts to expire. >> there is no responsible way we can govern this country with...
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Dec 3, 2012
12/12
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KPIX
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cliff." if a budget plan is not approved by year's end, automatic tax hikes and across- the-board spending cuts will take effect. but democrats and republicans seem to keep digging in their heels speaking on the sunday news talk shows. >> the president and the white house have had three weeks and this is the best we've got? >> what we can't do is try to figure out what works for them. they have to tell us. >> if congress doesn't act, america will ring in the new year with $110 billion in spending cuts and a $500 billion tax increase. >> "fiscal cliff," are you tired of it? >> i know. we are tired of it. >>> 6:10 now. a trip goes terribly wrong. how a california magician ended up in the hospital. >> the coast guard loses one of its own. how a smuggling investigation off the coast of santa barbara turned deadly. >> and we have a major recall to tell you about. the fire hazard involving two popular ford cars. we'll tell you about that and more when we come back. ,, ,,,,,,,,,, look at you guys wi
cliff." if a budget plan is not approved by year's end, automatic tax hikes and across- the-board spending cuts will take effect. but democrats and republicans seem to keep digging in their heels speaking on the sunday news talk shows. >> the president and the white house have had three weeks and this is the best we've got? >> what we can't do is try to figure out what works for them. they have to tell us. >> if congress doesn't act, america will ring in the new year with...
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Dec 3, 2012
12/12
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. >>> republicans and democrats are in a stalemate in negotiations to avoid that "fiscal cliff." as susan mcginnis reports, key players took to the sunday talk shows to make their case. >> reporter: the white house is already decorated for the holidays, but the mood here in washington is anything but festive. >> i think we're going over the cliff. >> reporter: if congress doesn't act, america will ring in the new year with $110 billion in spending cuts and a $500 billion tax increase leaving the average household with a nearly $3,500 hangover. treasury secretary timothy geithner was on capitol hill to present the plan to congress. >> i was flabbergasted. i looked at him, i says, you can't be serious. >> reporter: president obama wants $1.6 trillion in new taxes on the rich, $400 billion in cuts to entitlement programs, such as medicare, and $50 billion in stimulus spending. >> the president and the white house have had three weeks and this is the best we've got?! >> reporter: mitch mcconnell laughed at them last week. now geithner says if they don't like the president's plan, the
. >>> republicans and democrats are in a stalemate in negotiations to avoid that "fiscal cliff." as susan mcginnis reports, key players took to the sunday talk shows to make their case. >> reporter: the white house is already decorated for the holidays, but the mood here in washington is anything but festive. >> i think we're going over the cliff. >> reporter: if congress doesn't act, america will ring in the new year with $110 billion in spending cuts and a...
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Dec 3, 2012
12/12
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on friday we told you republicans on capitol hill ed a whitehite house proposal to avoid the fiscal cliff a joke. this morning the man who made that offer is telling the other er e it's time to put up or shut up. >> and the speaker of the house says the president knows what republicans want but with just 29 days left, it's looking as though both sides are playing a game of political chicken. bill plante is at the white house. bill, good morning. >> reporter: good morning. and good morning out west. that's right. 29 days until the fiscal cliff. the real deadline could be even closer. one of the negotiators tells cbs news that to actually get the deal done by the end of the year a plan needs to be in place by but at nd-december. ut at the moment, very few are optimistic about that. >> t >> there's no path to an ag agreement. thates not involve republicans acknowledging that rates have to go up for the wealthiest americans. geithneury secretary tim ompromisetalked tough on sunday. promising any compromise must n thede a tax rate increase on the wealthy. >> the only thing that stands in the w
on friday we told you republicans on capitol hill ed a whitehite house proposal to avoid the fiscal cliff a joke. this morning the man who made that offer is telling the other er e it's time to put up or shut up. >> and the speaker of the house says the president knows what republicans want but with just 29 days left, it's looking as though both sides are playing a game of political chicken. bill plante is at the white house. bill, good morning. >> reporter: good morning. and good...
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Dec 3, 2012
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in check. >>> anybody wants to go over the cliff. >> the new concerns the country is headed for the fiscal cliff. n [ laughter ] [ girl ] wow, you guys have it easy. i wish i had u-verse when i was your age. in my day, we didn't have these fancy wireless receivers. blah blah blah. if i had a sleepover, i couldn't just move the tv into the playroom. no. we had to watch movies in the den because that's where the tv outlet was. and if dad was snoring on the couch, we muscled through it. is she for real? your generation has it made. [ male announcer ] the wireless receiver only from at&t u-verse. get u-verse tv for $29 a month for six months. rethink possible. >>> ra little bit of patchy fog -- a little bit of patchy fog. mostly sunny, partly cloudy. rain returns to the north bay on tuesday. >>> all right. we have some breaking news. buckingham palace says prince william and the duchess of cambridge are expecting a baby. their first. ever since they got married, there's been speculation about when they would have their first child and the duchess has made it no secret that they with like to ha
in check. >>> anybody wants to go over the cliff. >> the new concerns the country is headed for the fiscal cliff. n [ laughter ] [ girl ] wow, you guys have it easy. i wish i had u-verse when i was your age. in my day, we didn't have these fancy wireless receivers. blah blah blah. if i had a sleepover, i couldn't just move the tv into the playroom. no. we had to watch movies in the den because that's where the tv outlet was. and if dad was snoring on the couch, we muscled through...